Cencosud Shopping Sa · BCS:CENCOMALLS
Cencosud Shopping Sa — Cenco Malls — Q2 2026 Earnings Presentation
24 slides from Cencosud Shopping Sa's earnings presentation, August 2026
Slide 1: Earnings Presentation Second Quarter 2026
Earnings Presentation Second Quarter 2026 Santiago, Chile | August 2026 BCS: Earnings Presentation CENCOMALLS – 2Q26 |1
Slide 2: Table of Contents
· Contents Table of Contents 01 02 03 HIGHLIGHTS RESULTS SUSTAINABILITY Earnings Presentation – 2Q26 |2
Slide 3: Highlights 2Q26
SECTION 01 Highlights 2Q26 CENCO MALLS | EARNINGS PRESENTATION — 2Q26 Earnings Presentation – 2Q26 |3
Slide 4: Investment Plan Key Progress — Chile
1.1 · HIGHLIGHTS Investment Plan Key Progress — Chile CENCO TEMUCO ~16,500 sqm Expansion works continue to progress • Execution of the Cenco Temuco expansion project continued, reaching 84% completion at the end of the quarter. • The project will add ~16,500 sqm of GLA for retail, dining and other u
Slide 5: Investment Plan Key Progress — Chile
1.2 · HIGHLIGHTS Investment Plan Key Progress — Chile CENCO FLORIDA ~12,500 sqm Start of construction of the Multifamily project • Construction began on the Multifamily project at Cenco Florida, the Company’s first residential project development associated with one of its assets. • The project cont
Slide 6: Investment Plan Key Progress — Chile
1.3 · HIGHLIGHTS Investment Plan Key Progress — Chile PREMIUM OUTLET – PHASE I ~18,000 sqm Permits completed, construction preparation in progress • The Maipu Premium Outlet project completed the permitting process, advancing the Company’s first development in this format. • Phase I will comprise 18
Slide 7: Investment Plan Key Progress — Chile
1.4 · HIGHLIGHTS Investment Plan Key Progress — Chile CENCO ALTO LAS CONDES ~5,000 sqm New access to Mirador del Alto • Delivery of the new Mirador del Alto access, adding eight stores and ~1,350 sqm of GLA to the asset, with four stores already open and the remainder in the fit-out stage. • Progres
Slide 8: Investment Plan Key Progress — Peru and Colombia
1.5 · HIGHLIGHTS Investment Plan Key Progress — Peru and Colombia ★ KEY MILESTONE ~76,250 sqm Plaza Central (Bogota) — Acquisition Closing In June, Cenco Malls completed the acquisition of a 51% stake in Plaza Central, a shopping center of 76,250 sqm of GLA in Bogota, Colombia. The incorporation of
Slide 9: Quarterly Highlights
1.6 · HIGHLIGHTS Quarterly Highlights CORPORATE GOVERNANCE Change in Board Chairmanship In April, Jaime Soler Bottinelli assumed the chairmanship of Cenco Malls’ Board of Directors, succeeding Manfred Paulmann Koepfer, who continues to serve as a director of the Company. SHAREHOLDER RETURN Approval
Slide 10: Quarterly Highlights
1.7 · HIGHLIGHTS Quarterly Highlights DINING & EXPERIENCES Launch of QINTO QINTO opened at Cenco Costanera, a 30,000 sqm space bringing together more than 80 dining concepts, strengthening the asset’s value proposition. CUSTOMER LOYALTY Mother’s Day campaign Cenco Malls ran a special campaign across
Slide 11: Results 2Q26
SECTION 02 Results 2Q26 CENCO MALLS | EARNINGS PRESENTATION — 2Q26 Earnings Presentation – 2Q26 | 11
Slide 12: Revenue and Adjusted EBITDA growth driven by improved fixed rent
2.1 · RESULTS Revenue and Adjusted EBITDA growth driven by improved fixed rent Revenues: CLP 99,397 MM (+9.3% YoY) — New space across the three countries and progress in leasing recent projects Consolidated Revenues Adjusted EBITDA +9.3% +9.5% 90,979 99,397 82,003 89,818 2Q25 2Q26 2Q25 2Q26 ▲ Higher
Slide 13: Executive Summary — Key Figures 2Q26
2.2 · RESULTS Executive Summary — Key Figures 2Q26 FFO and Distributable Net Income grew +13.6% and +27.9% YoY, respectively, driven by higher Adjusted EBITDA and a lower tax charge CLP MM 2Q26 2Q25 Var. (%) FFO Revenues 99,397 90,979 9.3% 72,802 +13.6% YoY CLP MM Adjusted EBITDA 89,818 82,003 9.5%
Slide 14: Revenue Structure 2Q26
2.3 · RESULTS Revenue Structure 2Q26 Fixed rent represents ~76% of revenues — stable structure with ~66% of contracts expiring beyond 5 years 8.8% Contract Maturity (in years) 66.2% 15.1% Fixed Rent 16.2% Variable Rent Others 7.7% 76.1% 6.9% 3.1% ~66% 8.7 years of contracts expire in Average contrac
Slide 15: Performance by Country — Chile
2.4 · RESULTS Performance by Country — Chile Chile: revenues +6.8% YoY driven by new space, higher office occupancy and parking growth REVENUES — CHILE 2Q26 (CLP MM) +6.8% Revenues: ▲ New space added over the past year and leasing progress drive fixed rent growth 93,684 ▲ Higher contribution from Of
Slide 16: Performance by Country — Peru and Colombia
2.5 · RESULTS Performance by Country — Peru and Colombia Revenues in Peru and Colombia grew +22.7% and +152.2% YoY, respectively, driven by the ramp-up of La Molina and the Plaza Central effect Peru Colombia Revenues (CLP MM) Revenues (CLP MM) +22.7% +152.2% 2,425 3,288 Adjusted EBITDA (CLP MM) Adju
Slide 17: Operational Data — SSS, SSR and Occupancy Cost
2.6 · RESULTS Operational Data — SSS, SSR and Occupancy Cost Peru and Colombia continue to accelerate their commercial momentum, while Chile’s rental performance remained resilient despite a more challenging consumption environment Same Store Sales Same Store Rent SSS (in local currency) SSR (in loc
Slide 18: Operational Data — Occupancy rate, visits and tenant sales
2.7 · RESULTS Operational Data — Occupancy rate, visits and tenant sales Consolidated visits +13.8% YoY driven by growth across the three countries despite decelerating consumption in Chile and with strong expansion in Colombia Chile Peru Colombia Consolidated Occupancy rate (occupied sqm / total sq
Slide 19: Solid cash position — Operating flows cover Investment Plan
2.8 · RESULTS Solid cash position — Operating flows cover Investment Plan Operating cash flow of CLP 143,387 million and a local bond placement of CLP 98,720 million supported the investment plan and strengthened the cash position +85.6% 98,720 168,113 143,387 25,587 5,845 82,313 3,775 828 44,355 Ca
Slide 20: Capital Structure — solid debt profile, contained leverage
2.9 · RESULTS Capital Structure — solid debt profile, contained leverage DEBT D E B T M A T U R I T Y P R O F I L E ( U F M M ) (4) Gross financial debt 884,461 CLP MM DEBT New Issuance Net financial debt 802,148 CLP 10.0 MM COST Average cost of debt 1.71 % annual in UF TERM Average debt duration 10
Slide 21: Sustainability Progress
SECTION 03 Sustainability Progress CENCO MALLS | EARNINGS PRESENTATION — 2Q26 Earnings Presentation – 2Q26 | 21
Slide 22: Sustainability progress
3.1 · SUSTAINABILITY PROGRESS Sustainability progress CORPORATE GOVERNANCE Integrated Report 2025 — ESG progress and sustainable growth Cenco Malls presented its 2025 Integrated Report, highlighting progress in the integration of ESG criteria into the management of its assets. During the year, 94% o
Slide 23: Important Information
· DISCLAIMER Important Information The information contained in this presentation has Cenco Malls, its affiliates, directors, partners, and been prepared by Cencosud Shopping S.A. ("Cenco employees disclaim any and all liability for any loss Malls") for informational purposes only. It should not or
Slide 24: Earnings Presentation – 2Q26
Earnings Presentation – 2Q26 | 24